The Jail Break System | Page 153 | Forex Factory

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The Jail Break System

  • #3,041
  • Dec 6, 2019 7:36am Dec 6, 2019 7:36am
Quoting Pat Chiko
{quote} GBP USD So far this trade good R:R return Nice Jail Breaker {image}

GBP USD



Ready to roll High Impact News


NFP data vs Price.

Attached Image (click to enlarge)
Click to Enlarge Name: gu 112.jpg Size: 161 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,042
  • Dec 6, 2019 7:36am Dec 6, 2019 7:36am
Quoting Kellytrade
{quote} Morning Poker Chip, I think the problem most reversal traders face (or at least what I keep getting caught) is getting into the trade too early. Meaning we thought it is an R after 3 levels but price went on to another 2 or 3 levels, putting my trades in DD. This is the area I really hope I can improve on. Thanks for your help.

You're correct, some times the "MM " will keep pushing past the reversal and move up 3 more levels then have the reversal.

I'm not sure how to counter this action. The " MM " does this because he still has enough traders trapped so its worth while for him to keep the same direction.
Patience, let the trade come to you.
  • #3,043
  • Dec 6, 2019 7:40am Dec 6, 2019 7:40am
Quoting Pat Chiko
GBP USD Scalping Please comment on the newbie set up Thank you {image}
Pat,
I see that you're in profit right now.
My opinion is that this pair is going to move back up very soon.
The " MM " is grabbing sellers right now then he will push this pair up in a hurry, trapping them.
This is just my opinion.
Patience, let the trade come to you.
  • #3,044
  • Dec 6, 2019 7:44am Dec 6, 2019 7:44am
Quoting Pat Chiko
USD JPY Waiting for Limit Order get filled during NFP {image}
USD JPY


NFP

Empty handed on this pair.. lol
Attached Image (click to enlarge)
Click to Enlarge Name: uj 106.jpg Size: 181 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,045
  • Dec 6, 2019 7:47am Dec 6, 2019 7:47am
Quoting Pat Chiko
USD CAD Limit Order for NFP {image}

USD CAD


Target set too far for NFP

They just ran away.. lol
Attached Image (click to enlarge)
Click to Enlarge Name: ucad 109.jpg Size: 230 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,046
  • Dec 6, 2019 7:48am Dec 6, 2019 7:48am
Quoting Tomasz84
{image}
Good morning Tomasz84,
I'll go through each chart today and post my chart so you can compare both charts.
Please be careful trading any pair below $1.00 then tend to be whip sawed by the " MM " from time to time.
Thanks for posting you're charts.

Poker Chip
Patience, let the trade come to you.
  • #3,047
  • Dec 6, 2019 7:59am Dec 6, 2019 7:59am
GBP CAD


Waiting for price to reach this level for SHORT.

Any comment and views are welcome for educational purposes only


Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: gcad 124.jpg Size: 160 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,048
  • Dec 6, 2019 8:05am Dec 6, 2019 8:05am
Quoting Pat Chiko
{quote} EUR GBP Scalping a bit while waiting for NFP in few hours {image}

EUR GBP

Getting closer to my SL. Not looking good


Tight SL for GBP crosses/pairs
Attached Image (click to enlarge)
Click to Enlarge Name: egbp 106.jpg Size: 187 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,049
  • Edited 8:55am Dec 6, 2019 8:25am | Edited 8:55am
Quoting Tomasz84
Hello guys. You have a great thread here. I just started learning the PokerChip method. Can anyone check if my levels are well marked? I don't want to make mistakes from the first steps ... thank you in advance Hello boys. You have a great thread here. I just started learning the PokerChip method. Can anyone check if my levels are well marked? I don't want to make mistakes from the first steps ... {image} {image} {image} {image}
I could not find the pair USD/PLN on my charts.

EUR/USD 1 hour chart
USD/JPY 1 hour chart
GBP/USD 1 hour chart
AUD/USD 1 hour chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdi-h1-tw-corp-eur-usd.png Size: 35 KB
Click to Enlarge Name: usdjpyi-h1-tw-corp-usd-jpy.png Size: 40 KB
Click to Enlarge Name: gbpusdi-h1-tw-corp-gbp-usd.png Size: 32 KB
Click to Enlarge Name: audusdi-h1-tw-corp-aud-usd.png Size: 37 KB
Patience, let the trade come to you.
  • #3,050
  • Dec 6, 2019 8:26am Dec 6, 2019 8:26am
Quoting Pat Chiko
AUD NZD Limit Order Filled {image} {image}

AUD NZD


Jail House cleaning before the weekend

Closing this trade coz, it's not moving.

Better to wait another setup

Preserve capital
Attached Image (click to enlarge)
Click to Enlarge Name: an 103.jpg Size: 218 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,051
  • Dec 6, 2019 8:33am Dec 6, 2019 8:33am
Quoting Pat Chiko
CAD JPY Scalping a bit No jail to break here. {image}

CAD JPY


Three days trade.

Not a very good R:R

Too high on drawdown

Difficult to mark Jail stages now.

I saw PokerChip Jail Mapping on this pair.... Need to study those.

Thanks Poker Chip
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy 105.jpg Size: 258 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,052
  • Dec 6, 2019 8:40am Dec 6, 2019 8:40am
Quoting PokerChip
{quote} Good morning Pat, Here is the daily chart for the EUR/GBP. It looks like its getting ready for a reversal. Thanks, Poker Chip {image}

Good morning Sir.


Yes , it is.

I was studying all your post and using your chart to guide my trade.

I'm satisfied with the result.

Need to fine tune my entry to minimize SL exposure

Need to enter market with good timing.

If my current position stopped out, I will look for re-entry next week.

I use M15 to refine the entry.

Thanks for you time and knowledge helping poor newbie like me.

God Bless you

I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,053
  • Dec 6, 2019 8:42am Dec 6, 2019 8:42am
Quoting Pat Chiko
GBP CAD Waiting for price to reach this level for SHORT. Any comment and views are welcome for educational purposes only Thank You {image}
Before taking any entry, i suggest you to wait the elections
  • #3,054
  • Dec 6, 2019 8:43am Dec 6, 2019 8:43am
Quoting Pat Chiko
{quote} CAD JPY Three days trade. Not a very good R:R Too high on drawdown Difficult to mark Jail stages now. I saw PokerChip Jail Mapping on this pair.... Need to study those. Thanks Poker Chip {image}
You're welcome Pat,

Just a thought on you're EUR/GBP buy trade.

This pair has dropped 885 pips on the day chart.

If I were I would give this pair a little more time, I think its in the process of a reversal.

This could be a huge trade for you, because you have bought it at the bottom.
Patience, let the trade come to you.
  • #3,055
  • Dec 6, 2019 8:47am Dec 6, 2019 8:47am
EUR NZD


Seldom trade this pair

Because spread are normally high and the payout is small (6.5664 )

Anyway, I was wondering how to mark Jail in this pair.

I'm lost with this Jailess pair.

Anyone/Everyone please comment and sharing views as for educational purposes for members of this thread.

Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: EN 103.jpg Size: 218 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,056
  • Dec 6, 2019 8:50am Dec 6, 2019 8:50am
Quoting MrGreen95
{quote} Before taking any entry, i suggest you to wait the elections

Yes Sir,

you're absolutely right.

Most of the time, I scalp the GBP pair/crosses , coz, at anytime this pair will move 50 pips just for one simple news.

Green pips to you Mr Green.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,057
  • Dec 6, 2019 8:52am Dec 6, 2019 8:52am
Quoting Pat Chiko
{quote} Good morning Sir. Yes , it is. I was studying all your post and using your chart to guide my trade. I'm satisfied with the result. Need to fine tune my entry to minimize SL exposure Need to enter market with good timing. If my current position stopped out, I will look for re-entry next week. I use M15 to refine the entry. Thanks for you time and knowledge helping poor newbie like me. God Bless you
Pat,
I read all you're post and charts, I think you're a really good trader, and I'm not just saying that.

I hope traders that decide to use the jail break system will move up to the 4 hour and daily charts.

The 4 hour and daily are so much smoother, the 1 hour charts have a lot of volatility which we need but they also have a lot of whip saw action that can hurt us traders.

Poker Chip
Patience, let the trade come to you.
  • #3,058
  • Dec 6, 2019 8:54am Dec 6, 2019 8:54am
Quoting PokerChip
{quote} Pat, I see that you're in profit right now. My opinion is that this pair is going to move back up very soon. The " MM " is grabbing sellers right now then he will push this pair up in a hurry, trapping them. This is just my opinion.

PokerChip Sir


GBP USD

Thanks for the head-ups.

Managed to closed the scalping position with good R:R.

I see price is going higher now.

Billytt must be very happy now , coz he went long for this pair.

You've done great job here.

Thanks again
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #3,059
  • Dec 6, 2019 8:57am Dec 6, 2019 8:57am
Quoting Pat Chiko
{quote} PokerChip Sir GBP USD Thanks for the head-ups. Managed to closed the scalping position with good R:R. I see price is going higher now. Billytt must be very happy now , coz he went long for this pair. You've done great job here. Thanks again
You're welcome Pat

If ever need any help on anything please let me know.

I would be happy to help you or anyone else here.

Poker Chip
Patience, let the trade come to you.
  • #3,060
  • Dec 6, 2019 9:05am Dec 6, 2019 9:05am
Quoting Pat Chiko
{quote} PokerChip Sir GBP USD Thanks for the head-ups. Managed to closed the scalping position with good R:R. I see price is going higher now. Billytt must be very happy now , coz he went long for this pair. You've done great job here. Thanks again

I longed the break of the 00-00 4 hour bar, this actually failed biut I then went shoer on break of low,

This is all standard for me, and I chased the daily range (or part 0f it). and got enough lol.
Then we had my main trade, I shorted the 08-00 15 minute bar for 5%.
Happy Days.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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